The firm represented RattanIndia Power Ltd, a business conglomerate with business interests in power generation and finance, in an insolvency matter under the Insolvency & Bankruptcy Code, 2016 (IBC) before the Hon’ble National Company Law Tribunal (NCLT), Delhi and the National Company Law Appellate Tribunal (NCLAT).

An Operational Creditor had filed application/petition under the provisions of Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) before the Hon’ble National Company Law Tribunal, Delhi (NCLT) against ‘RattanIndia Power Ltd’, the Corporate Debtor alleging default of repayment by the Corporate Debtor.

Represented by Alok Dhir, Managing Partner, Dhir & Dhir Associates, the Hon’ble Tribunals upheld that liability to pay the Operational Creditor for the service rendered has been in dispute even prior to the filing of the present petition. Disputes with respect to the quality of service rendered are evident from the various communications on record. Liability on account of delay in executing the job work arising out of the work order is also sought to be invoked.